John Williams, President of the Federal Reserve Bank of San Francisco spoke on Saturday, commenting on this week's Federal Open Market Committee (FOMC) decision
- Said it was a close call
- Said the arguments for and against are balanced
- Acknowledged the risks from the China slowdown
- Said full employment to be achieved in the near future
- Says inflation still too low, this is transitory, it should move gradually back to the 2% goal
- "Given the progress we've made and continue to make on our goals, I view the next appropriate step as gradually raising interest rates, most likely starting sometime later this year"
Williams is a voter on the FOMC this year (for a list of the voters this year, and next, check this out: Federal Reserve Board; who is a hawk, who is a dove?)
Reuters and Bloomberg have more
Time is running out for a hike this year, there are meetings still to come in October (27-28) and December (15-16). If Williams is right on his 2015 expectation for a hike we'll get a Rocktober or an early Christmas present.
